PKN ORLEN S.A. („Company”) informs that in the PKN ORLEN unconsolidated financial statement for the first quarter 2017 there will be recognized impairment charge related to ORLEN Lietuva shares in the amount of PLN 517 m.
The reason to conduct impairment tests of ORLEN Lietuva shares, which result in the abovementioned impairment, is the pay-out of dividend by ORLEN Lietuva to PKN ORLEN in the amount of ca. PLN 591 m in the first quarter 2017.
The abovementioned impairment does not influence consolidated financial statements of ORLEN Capital Group for the first quarter 2017.
PKN ORLEN will publish the consolidated report for the first quarter 2017 and unconsolidated quarterly financial information, on 27 April 2017.
See also: regulatory announcement no 35/2017 dated 14 March 2017.